Scotiabank Corporate Actions - Notification Analyst in Toronto, Ontario

Corporate Actions - Notification Analyst

Requisition ID: 3235

Join the Global Community of Scotiabankers to help customers become better off.

PURPOSE:

This position is responsible to ensure that we capture all corporate actions that affect our client positions. In addition, analyze the often complex data captured from various depositories, custodians, issuers to identify key information from multiple documents, and create a notification containing this information for distribution to our sales force and clients. It is imperative that this information be accurate and timely, so that our clients have accurate data and ample time, when deciding on voluntary actions that they may wish to take, on the various corporate actions affecting their portfolio positions. In addition, these notifications are used by the reorg processing team as the trigger to establish a file for future processing of such corporate actions.

KEY ACCOUNTABILITIES:

1.Retrieve corporate action notices, documents from Reorg Group Mail, as well as various Depositories and custodians used by Scotiabank, Scotia Capital Inc.

Flag assets on AOM PET DCOP as per SLA, for trade warning messages on corporate actions.

Keep voluntary preliminary notifications and follow up for confirmed information.

Send asset master update requests for extensions on warrants and rights.

Identifying upcoming expiry items (via WTS/RTS Expiry Report). For short expiry, escalate to the Reorg Specialist, Reorg Processing Officer and Assistant Manager, to ensure appropriate action is taken.

  1. Prepare client notification to be distributed to sales force and clients:

All notifications must have at least 2 final/effective sources of information with corresponding information. Retrieve/obtain depository/custodian notices and information circular from SEDAR/EDGAR, Issuer’s website, etc. and ensure hard copy is provided in the file for processing team.

Print the ADP’s AESR screen and ensure notices are received for each of the depository/custodians where the firm holds a position in the security undergoing the corporate action. Where there are various cut off time for instruction submission from different depositories/custodians, issuers work with the earliest cut off, unless advised otherwise by the Reorg Processing team Assistant Manager or Manager, who may decide that an inter-depositories movement can be made, which will allow the firm to work with the later cut off for instruction submission.

If you have only one source of information, a search must be conducted for a second, reliable source (Company Circular available from the internet, Bloomberg etc.).

Organize and analyse source material i.e. prospectuses, circulars etc. as available. Using Microsoft Access, prepare client condensed notification based on effective information available. Notifications must include all deadlines, options, tax consequences and any other pertinent information. Determine residency restrictions for tenders, as well as define eligible points of tender, these details are not always clearly indicated in material published by the Depositories or Agents or Offeror (deemed dividends, tax treatment);

Notifications must be approved by Specialist/management prior to publishing

When the notification is approved, post to reorg website. Randomly check to ensure the notifications have properly published/uploaded. Also send notifications via Email to established distribution list. And distribute to the Reorg Processing Team.

Upload the search file to the server for “search function”. Test to ensure file is correctly/properly uploaded.

Ensure that we adhere to our policy SLA for the issuing of confirmed Corporate Action notifications.

3.Diarize the expiry of all voluntary Reorgs in the Calendar.

Ensure all voluntary and mandatory redemption items are diarized in Reorg Dept. Expiry Calendar

If position is held in Defunct Account vs. Depository or Bulk Seg, advise the Reorg processing team Manager, to ensure client position is reinstated and reorg transaction processed.

  1. Ensure Preferred Clients needs are met:

Ensure Emails are sent for short expiries.

Answer emails received from the business lines within SLA

  1. Avoid excessive loss in any situations involving market risk or exposure by

Working overtime as required to meet deadlines.

Immediately advising Manager of any situations that could result in exposure/loss to the firm.

Refrain from deciding to take any market action without escalation to management;

Review appropriate forms/reports specific to job function;

  1. Maintain accurate records of statistics to measure departmental volumes.

FUNCTIONAL COMPETNCIES:

Excellent time management and teamwork skills are essential in accomplishing many tasks.

Ability to organize and analyse data and problem solve with a high degree of accuracy.

Excellent communication skills both verbal and written.

Ability to respond effectively to fluctuating volumes within constrained time frames and stressful situations.

Knowledge of the operational procedures and conventions of the various depositories/transfer agents the area interacts with - CDS, DTC, BNP, Citi, Cedel, Clearstream various issuers and law firms.

Good operating knowledge of the HOD MSDI, MSI0, MRGN, AESR applications.

EDUATIONAL REQUIREMENTS:

University Degree or Equivalent Experience.

Very familiar with corporate actions

Location(s): Canada : Ontario : Toronto

As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. We value the unique skills and experiences each individual brings to the bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. Candidates selected for an interview will be contacted directly. If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.